The state of Nicaragua is suing Grupo Barceló for 30 million dollars, in a process that will go for arbitration before the International Center for Settling Differences Relative to Investments.

Although Barceló threatened to take the case to the international settlement center weeks ago, in the end it was the State of Nicaragua that took the initiative on arbitration.
The controversy is over the ownership of Centro Turístico Montelimar, which Barceló purchased in 1993. The state contends that Barceló has failed to fulfill its commitments as a buyer.

Executives from the Grupo Barceló repeated this Thursday that they owe nothing to the State of Nicaragua and refused to make further comments on the lawsuit presented by the government.

The company's legal reprentative, Tomás Delaney, told reporters that they have reviewed the lawsuit sent to the Washington-based International Center for Settlement of Differences Relative to Investments.

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